iShares U.S. Tech Independence Focused ETF (BATS:IETC) Short Interest Up 914.3% in May

iShares U.S. Tech Independence Focused ETF (BATS:IETC) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 9,352 shares, a growth of 914.3% from the May 14th total of 922 shares. Based on an average daily volume of 60,821 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On iShares U.S. Tech Independence Focused ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Perspectives Inc raised its stake in shares of iShares U.S. Tech Independence Focused ETF by 1.3% in the fourth quarter. Financial Perspectives Inc now owns 10,859 shares of the company’s stock valued at $1,103,000 after acquiring an additional 137 shares during the period. Sound Income Strategies LLC raised its stake in shares of iShares U.S. Tech Independence Focused ETF by 48.8% in the fourth quarter. Sound Income Strategies LLC now owns 442 shares of the company’s stock valued at $45,000 after acquiring an additional 145 shares during the period. NewEdge Advisors LLC raised its stake in shares of iShares U.S. Tech Independence Focused ETF by 25.0% in the first quarter. NewEdge Advisors LLC now owns 750 shares of the company’s stock valued at $66,000 after acquiring an additional 150 shares during the period. Comprehensive Financial Planning Inc. PA raised its stake in shares of iShares U.S. Tech Independence Focused ETF by 3.5% in the third quarter. Comprehensive Financial Planning Inc. PA now owns 4,959 shares of the company’s stock valued at $505,000 after acquiring an additional 166 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of iShares U.S. Tech Independence Focused ETF by 6.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,217 shares of the company’s stock valued at $331,000 after acquiring an additional 183 shares during the period.

iShares U.S. Tech Independence Focused ETF Stock Down 1.5%

IETC stock opened at $106.83 on Wednesday. iShares U.S. Tech Independence Focused ETF has a 52 week low of $84.32 and a 52 week high of $118.70. The company has a fifty day simple moving average of $102.80 and a two-hundred day simple moving average of $99.31. The firm has a market capitalization of $769.18 million, a P/E ratio of 37.47 and a beta of 1.18.

About iShares U.S. Tech Independence Focused ETF

The iShares Evolved U.S. Technology ETF (IETC) is an exchange-traded fund that is based on the MSCI USA IMI Information Technology index. The fund is an actively managed fund of US stocks in the information technology sector according to an alternative classification system defined by machine learning algorithms. The market cap-weighted fund targets an increased exposure to firms with high Technology Independence Score. IETC was launched on Mar 21, 2018 and is managed by BlackRock.